Financial Performance - Total revenue for Q3 2025 was $3.5 million, representing a 19% increase compared to Q3 2024[5] - Gross profit increased to $1.9 million, up by $0.3 million or 16% year-over-year, with a gross margin of 54%[5] - The company reported a net loss of $7.9 million for Q3 2025, compared to a net loss of $5.8 million in Q3 2024[17] - Net loss for the period was $17,921,000, compared to a loss of $15,259,000 in the previous year, indicating a year-over-year increase in losses of approximately 17.5%[19] - Net cash used in operating activities was $15,178,000, slightly higher than $14,692,000 in the prior year, reflecting ongoing operational challenges[19] Cash and Financing - Cash and cash equivalents totaled $17.8 million as of September 30, 2025, following an IPO that generated net proceeds of $23.4 million[8] - Cash and cash equivalents at the end of the period increased to $17,787,000 from $9,799,000, representing a significant improvement of approximately 81%[19] - Net cash provided by financing activities was $23,589,000, a substantial increase from $10,073,000 in the previous year, driven by proceeds from the IPO and other financing activities[19] Operating Expenses - Operating expenses rose to $9.9 million, an increase of $2.5 million from Q3 2024, primarily due to R&D and administrative costs[6] - The company reported a depreciation and amortization expense of $161,000, up from $155,000, indicating continued investment in assets[19] - Stock-based compensation rose significantly to $629,000 from $43,000, reflecting increased employee incentives and potential future costs[19] - Accounts payable increased to $596,000 from $226,000, suggesting a rise in short-term obligations[19] - The company recorded a loss on disposal of property and equipment amounting to $1,000, indicating asset management challenges[19] - Cash paid for income taxes was $7,000, slightly higher than $6,000 in the previous year, reflecting minimal tax obligations[19] Business Development - New accounts grew by 31% in Q3 2025 compared to the same quarter in 2024[7] - CapsoCam Plus® has been used by over 151,000 patients as of September 30, 2025[7] - The company submitted an application to the FDA for Breakthrough Device Designation for its endoscopy capsule aimed at early-stage pancreatic cancer detection[7] - CapsoVision entered into a development agreement with Canon Inc. for higher-resolution CMOS image sensors for future capsule endoscopes[7] Share Information - The weighted average common shares outstanding for Q3 2025 was 46,217,127[17] Currency Impact - The effect of exchange rate changes on cash and cash equivalents contributed an increase of $139,000, highlighting the impact of currency fluctuations on cash positions[19]
CapsoVision Inc(CV) - 2025 Q3 - Quarterly Results